Mr. A has received in his bank A/c Rs. 25 lakh from a group of friends who are not in the defination of relative for his cancer treatment.Whether 25 lakh is taxable in hands or not.Is there any provision or method so that he can save income tax which was received for his cancer treatment

Dear Experts

We are a Labour Law Advisory (proprietary) company registered under GST since July2017 & before that we were registered under Service Tax regime.

1) What is the current turnover limits for service providers under GST because we are planning to surrender GST registration.

2) If we fall under Pt 1 then would the following suffice before we make an application for surrender:

- filing GSTR3B for Mar2020
- filing GSTR1 for Jan-Mar2020 &
- filing GSTR9 for year 2018-2019 & 2019-2020

3) Do we need to take care of any other aspects other than Pt 2.

Your early revert will be of great help.

Thanks

SUNIL

Is relative of KMP required to be disclosed as per AS 18 even though there is no transaction with the relative during the financial year

Deal All,
Can we take in any case ITC on group medical insurance provided by the company for Employees? and not charged any fee from employee.

Can we take ITC of GST on penalty charged by BSE or NSE?

Kindly help me by way of answering the following:- 1) Received PPF maturity worth Rs.10830.31 (both of principal and interest). How to show the same in balance sheet? 2) A fully depreciated car sold worth Rs.2640/- (C.P. was 48690/-). How to show the amount received in balance sheet? 3) Received income tax refund worth Rs.3880/- as principal and 110/- as interest. Interest is taxable. How to show the amount received Rs.3880/- (principal of IT refund) in balance sheet? Regards, T.K.ROY

Dear Sir,

My query is In Mar end case this query raise in Example (31st Mar our Bank Current Account Balance rs. 100/- and 1st Apr morning 7 am i transfer fund ABC Account rs. 90/- so in bank statement this entry reflect in transaction date is 31st mar and value date is 01st Apr so sir plz confirm which date to be consider in bank re consolation.

My father sold our residential house in native and deposited the amount in capital gain account. We have used almost all the money for buying house in Bangalore. Now, we want to close the account but the manager is asking for approval of tax accessing officer. Since, my family has shifted to Bangalore, it seems quite difficult to travel to native for AO approval. Is there any other way(probably online) for applying for this approval? Which documents are required for approval?

Please help as even few CAs are also not sure about the procedure. Thank you !

I have paid Rs.390000/- as salary to A for the FY 2019-20?
My questions is
(1) should it require to deduct the TDS
(2) should I require to file.TDS return

Shares of a Company A which was received (in Sep 2015) in D Mat Account on merger/ take over of shares of another company B. (Cost of Acquisition Rs 5000/- purchased in Sep 1991)

Now Shares of Company A sold with STT duly paid in Jan 2020. (sale on Recognized Stock Exchange for Rs 352500/-) ( Market Value on 31-1-18 was Rs 331000/-)

Query : As STT was not paid when original shares were acquired then How capital gain will be calculated.